Wanda Group acquires Legendary Pictures for 23 billion yuan Become the largest overseas cultural merger and acquisition case

Today, Wanda Group announced that it will acquire Legendary Pictures of the United States for no more than US$3.5 billion in cash (approximately RMB 23 billion). This is the largest overseas cultural acquisition by a China company to date.

On January 12, Wanda Group announced that it would acquire Legendary Pictures of the United States for no more than US$3.5 billion in cash (approximately RMB 23 billion). This is the largest overseas cultural merger by a China company to date. Thomas Toole, Chairman and CEO of Legendary Pictures, will remain in office, continue to be responsible for the company's daily operations, and will be more actively involved in Wanda's successful development.

Legendary Pictures is a well-known American film and television production company, with businesses including film, television, digital media and animation. Legendary Pictures has produced a series of blockbusters with global influence, including the "Batman" series,"Inception","The Hangover","Jurassic World","300 Warriors: The Rise of the Empire","Pacific Rim","Superman: Body of Steel", etc., have grossed more than US$12 billion in box office worldwide. In 2016, Legendary Pictures will launch a game-based adaptation film "Warcraft" and the largest investment Sino-US co-production "The Great Wall" globally.

Thomas Toole: Legendary Pictures will be more actively involved in Wanda's development.

Thomas Toole said that he is very honored to be a member of Wanda and work with Wanda to build Legendary Pictures into a new international-level entertainment company. The world, especially China, is experiencing an increasing demand for high-quality entertainment content. We are ready to provide better content and experience to global audiences.

Wang Jianlin, chairman of Wanda Group, said that the acquisition of Legendary Pictures has made Wanda Films Holdings the world's largest film company with revenue. Especially in the two most important film markets in the world, the United States and China, Wanda has great influence. The film production, theater and distribution industry chain built by Wanda has greatly enhanced Wanda's core competitiveness and voice in the global film industry. Wanda's acquisition will create more market opportunities for Legendary Pictures, especially the fast-growing China film market, allowing Legendary Pictures to achieve rapid growth in performance.

Editor: yvonne